SLT Holdings LLC Makes New Investment in GameStop Corp. (NYSE:GME)

SLT Holdings LLC acquired a new position in GameStop Corp. (NYSE:GME) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 27,763 shares of the company’s stock, valued at approximately $870,000.

A number of other institutional investors have also recently added to or reduced their stakes in GME. Charles Schwab Investment Management Inc. increased its position in shares of GameStop by 22.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock worth $80,322,000 after purchasing an additional 646,488 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of GameStop in the 4th quarter worth about $878,000. Swiss National Bank increased its position in shares of GameStop by 46.0% in the 3rd quarter. Swiss National Bank now owns 790,528 shares of the company’s stock worth $18,127,000 after purchasing an additional 249,100 shares during the last quarter. Algert Global LLC increased its position in shares of GameStop by 270.5% in the 3rd quarter. Algert Global LLC now owns 150,526 shares of the company’s stock worth $3,452,000 after purchasing an additional 109,900 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of GameStop by 41.7% in the 3rd quarter. Retirement Systems of Alabama now owns 471,156 shares of the company’s stock worth $10,804,000 after purchasing an additional 138,597 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the transaction, the general counsel now owns 42,350 shares in the company, valued at approximately $1,315,814.50. This represents a 3.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel William Moore sold 895 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $27,807.65. Following the completion of the transaction, the insider now owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.28% of the company’s stock.

GameStop Stock Down 0.8 %

Shares of NYSE:GME opened at $24.00 on Friday. GameStop Corp. has a fifty-two week low of $9.95 and a fifty-two week high of $64.83. The firm has a 50-day simple moving average of $27.55 and a 200 day simple moving average of $25.54. The company has a market cap of $10.72 billion, a PE ratio of 133.31 and a beta of -0.29.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.09. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. The company’s quarterly revenue was down 20.2% on a year-over-year basis. As a group, research analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wedbush reissued an “underperform” rating and issued a $10.00 target price on shares of GameStop in a research report on Friday, December 6th.

About GameStop

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.